Oil firm Siccar Point Energy said today that it had booked a rig for drilling the Lyon well next year.
Siccar Point said North Atlantic Drilling’s West Hercules rig would drill the exploration well.
The Aberdeen-based company also said that it had completed the sale of majority interests in two licences, one of which contains the Lyon prospect, to energy giant Ineos.
The deal, first announced last month, gives Ineos 66.6% interests in licences P.1854 and P.1935, about 90miles north-west of Shetland.
P.1854 contains the Lyon prospect, thought to hold around 3trillion cubic feet of recoverable gas.
Ineos now has stakes in the four fields that make up the Lyon cluster — Lyon, Tobermory, Bunnehaven and Cragganmore.
Siccar Point and Ineos believe the prospect could be large enough to form a new gas-hub development similar to Total’s Laggan-Tormore fields.
Tobermory, Bunnehaven and Cragganmore would all be suitable tie-back candidates into a Lyon gas hub.
Siccar Point chief executive Jonathan Roger said: “We are delighted to be extending our relationship with North Atlantic Drilling which will allow our company, along with our new partner Ineos, to accelerate the drilling of the high impact west of Shetland Lyon exploration well into 2018.
“It is a testament to all the parties involved, including the Oil and Gas Authority, who were extremely supportive in expediting approvals, that we have completed the deal and simultaneously committed to the rig contract within a few weeks of signing the farm‐in deal. 2018 is shaping up to be a significant year for our business.”